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Is the Future of E-commerce Bright in India?

Is the Future of E-commerce Bright in India?

Ecommerce

GlobalLinker Staff

GlobalLinker Staff

24 Nov 2014, 11:47 — 4 min read

This question has been doing the rounds throughout the Indian business sector for quite some time now. From the time of its inception the E-commerce has been slowly growing its roots in India. Compared to countries like China and US, the Indian ecommerce companies have only just managed to scratch the surface.


In the year 2013, E-commerce in India managed to slowly break the code with an 80% jump in business, out of which Travel has a majority of nearly 70% [Source]. This has not been an easy battle for the companies since the E-commerce in India is plagued with a huge set of problems. Let’s take a look at some of them.


  1. ‘Can’t touch, won’t buy’
    We believe that this attitude in India has always been the primary reason why E-commerce has grown slower than it should have. People still prefer walking into a store and picking up a product even when it is available at a cheaper cost and delivered free at the doorstep.

  2. Fear of Fraud
    Most people In India are skeptical about sharing their credit card details online because of the large online scams and data theft. This has always affected conversion adversely since people have reached the checkout page and have actually closed the page when asked to make payments using online modes.

  3. Logistics
    India is a large country and many of the locations are still not very easily accessible because of which courier companies do not cover these regions. This means online companies are losing out on potential customers since they are the ones that depend on online services even more.

  4. Customer Service
    This is one area which has always been on the back seat of every business in India. Poor support by online businesses caused a more severe impact on the customer’s experience and because of which people opt out of using online shopping as a whole.



But a lot of these problems are slowly and steadily becoming a thing of the past. Online businesses are working extra hard to ensure that customer experience is positive at all times, which means a sense of security, speedy deliveries and good quality. Aggressive marketing coupled with regular discounts have also been critical support systems for penetrating the online users of India. Honestly, if your services are not up to the mark then there is little or no scope for your business to survive for long.  And again the real selling point for every online business is the convenience factor.



With recent studies showing that the E-commerce in India is going to reach new peaks in a few years, new ventures and buyers are going to be vital in proving these stats right. A huge factor supporting the E-commerce is the kind of ease it gives to both buyers and sellers is unmatched. If you have what the world wants, setup a website, display your products/skills and see your bank balance grow. The kind of success stories about internet startups has created a stir within the nation and many have begun to show a faith in the E-commerce industry. It won’t be long till we see a sharp change in the way people shop.



Do share your thoughts on the future of E-commerce in our country in the comments section below.


Article and Image Courtesy: http://bigrock.com/blog/sme/is-the-future-of-ecommerce-bright-in-india

 

 

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GlobalLinker Staff

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